Middle-east Arab News Opinion | Asharq Al-awsat

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Opinion: China is Our Future

by Abdulrahman Al-Rashed | Sep 2, 2016 | Opinion

China and India are countries that may play a crucial role in the near future of Saudi Arabia and the Gulf states in general. One key factor can change the equation because these two countries represent the two largest growing markets in the world at a time when other...

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Oil Drillers David McNew / Getty Images / AFP

Lowest Oil Discoveries Rate in 70 Years

by Asharq Al-Awsat | Sep 1, 2016 | Business

New York – News reports revealed on Wednesday that oil discoveries had recorded their lowest rate in 70 years reaching 10% of the average discoveries. This year, explorers expect the ratio to further decrease which raised fears of inability to meet future demands....

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Saudi Arabia’s energy minister Khalid al-Falih

Saudi Arabia’s Energy Minister: Demand Remains ‘Very Healthy’, No Specific Level of Oil Output Targeted

by Asharq Al-Awsat English | Aug 31, 2016 | Saudi Arabia

Saudi Arabia’s energy minister Khalid al-Falih announced that the world’s largest oil exporter does not target a specific level of oil production and that its output is based on customers’ needs. Speaking during an official visit to China, minister Falih told...

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Fire rises from oil wells, set ablaze by ISIS militants before fleeing the oil-producing region of Qayyara, Iraq, which has been recaptured by Iraqi forces, August 29, 2016. REUTERS/Azad Lashkari

Oil Fires Cast Black Cloud over Qayyara Retaken from ISIS

by Asharq Al-Awsat | Aug 31, 2016 | Middle East

Qayyara-It gets darker earlier these days in the northern Iraqi town of Qayyara, which ISIS militants abandoned about a week ago after setting fire to many of the region’s oil wells. Smoke billowing into the sky during a Reuters visit on Monday blotted out the...

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An oil field outside of Kirkuk, Iraq. (AFP/File)

Iraq and Kurdistan Reach Agreement on Kirkuk Oil

by Dalshad Abdullah | Aug 31, 2016 | Middle East

Erbil-Iraqi government and Kurdistan Regional Government (KRG) have agreed to import 150,000 bpd barrels from Kirkuk to Turkey. They struck a deal that it will be equally divided between Erbil and Baghdad. The two governments decided to refuse the request of the wife...